Program Related Questions
What is the New York Digital Health Accelerator Program?
The New York Digital Health Accelerator Program is a five-month program for growth-stage digital health or health IT companies. The Program provides a vehicle for healthcare providers and entrepreneurs to work together to support the scaling of innovative technologies. The focus areas include patient engagement, care coordination, population health, behavioral health technology and telehealth.
What types of companies are you looking for?
We are looking scalable, growth-stage companies which have developed healthcare IT products that are already in use with at least 1 healthcare provider in New York State (or in advanced discussions). We are seeking technologies related to patient engagement, care coordination, population health, behavioral health and telehealth. Companies must be nominated by a NY based healthcare provider organization, investor or pharmaceutical company. Only companies that already have provider engagement (or are in advanced discussions) are invited to apply. Companies wishing to apply may request to be nominated by directly contacting provider(s) and/or investor(s) with whom they have relationships.
If I am not from New York, would acceptance mean I need to relocate?
Yes, all companies participating in the Program will be required to relocate at least a portion of their management team to New York for the duration of the Program.
I would need to relocate to New York for the Program; will you be providing office space?
The Program does not include office space. However, we can help you find affordable working space in New York City.
Application Review Questions
What is the vetting process like?
A review committee will select up to 10 companies to participate in the Accelerator Program. Finalists will be invited to make oral presentations and to demo their products. The review committee will be comprised of hospital leadership, technology experts, clinicians and investors.
How will applications be evaluated?
The review criteria for company selection will include: product innovation in focus areas, management team with proven track record, company lifecycle stage, value proposition.
What types of companies are you NOT looking for?
Pharmaceutical, biotech, surgical medical device, and diagnostics companies.
How will companies be paired with a mentor provider organization?
The providers will participate in the selection process and will identify those companies that are closely aligned to strategic focus areas or specific use cases that interest them. Each company will be paired with a provider organization – or multiple provider organizations.
Will you sign our non-disclosure agreement?
There are too many applications submitted for us to sign an NDA, much like venture firms. We respect and understand the confidentiality of your application and will not share it with anyone outside of the selection committee. Please provide us with only as much information as you are comfortable sharing, and keep in mind that we will be able to better evaluate your application if you supply us with complete information.
Is there a fee for applying to the Program?
There is no fee to apply. For those companies accepted into the program, NYDHA will take warrants for 1% of the fully diluted equity of your company, with a fmv exercise price. If you have raised significant capital already, we may adjust our offer as appropriate.
What happens to my intellectual property if I am not selected?
Our application does not ask for detailed IP information and there is no reason you have to disclose this to us if you are not comfortable doing so.
Funding Related Questions
What type of funding do companies in the program receive?
For all companies accepted into the program, the New York Digital Health Accelerator will take warrants for 1.0% of the fully diluted equity of your company, with a fair market value exercise price.
Our company has received funding already. Can we still apply to the NY Digital Health Accelerator?
Yes. Please be sure to include details regarding past rounds of financing in your application.